According to the announcement, HPAM employees will be
transferred to Newton’s Private Investment Management
Division this summer. The parties did not disclose the
deal’s terms.

The transaction will result in Newton’s private client
and charities funds under management rising by 25% to
approximately $7.4 billion. HPAM currently manages
approximately $1.36 billion for more than 1,000
high-net-worth individuals, private trusts, and
charities.

Henderson is the investment management subsidiary of
AMP, the international financial services group.

The London-based Newton has offices in Edinburgh, Leeds,
Guernsey, and the Isle of Man.